Ecopetrol president Javier Gutiérrez says that higher hydrocarbons prices, a favorable exchange rate and historic production levels have contributed to positive results for the 3Q13, but that attacks on transport infrastructure and community blockades remain a worry for the NOC.
A perfect storm of terrorist attacks on oil infrastructure in Caquetá, Putumayo and Meta along with extended mining and agricultural strikes have contributed to a 43% increase in emergencies stemming from crude leaks in January to September 2013, compared to all of 2012.
Following a debate in Colombia’s Senate on royalties, the country’s Finance Minister Mauricio Cárdenas told press that the government would increase the resources available by CoP$1.5T (US$795M), but did not address structural and implementation concerns.
It has been revealed the Colombia’s largest private oil operator Pacific Rubiales (TSX:PRE) sent a letter to Ecopetrol (NYSE:EC) in March to formally ask the NOC to apply its STAR secondary recovery technology immediately and not wait until the 2016 contract ends.
The director of the Casanare environmental management agency Corporinoquia inspected the steps taken at a petroleum toxic waste plant to fix handling issues in the municipality of Pore and though it found advances, it will decide based on lab examinations whether or not to lift the preventative measure placed on the facility.
Colombia’s Labor Ministry absolved Pacific Rubiales (NYSE:PRE) of any wrongdoing against claims from the Oil Workers Union (USO) that it had engaged in anti-union practices and fired employees for their union activity.
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